Panasonic makes deeper foray into
SECAUCUS, N.J. – Panasonic Corp. of
North America has completed an investment in CardioNexus Corp., a
portfolio company of Houston’s Fairway Medical Technologies, which works
closely with the Texas Medical Center.
The move is part of Panasonic’s plans to establish itself as a global
leader in Personalized Preventive Medicine, the company said. The
investment follows on an earlier Panasonic initiative to establish a
presence in the world’s largest medical complex, the Texas Medical
Center, based in Houston.
Panasonic and Fairway have formed CardioNexus Corp., as their first
joint initiative to enter the application-specific device market, an
area in which they will be able to leverage Panasonic’s core medical
imaging technologies. The move is a step toward establishing a
leadership position in the field of Personalized Preventive Medicine
through early disease detection and home healthcare.
“We are excited about this unique opportunity and view it as the
beginning of a productive and mutually beneficial relationship,” said
Joseph M. Taylor, CEO of Panasonic North America.
“We welcome Panasonic’s commitment to healthcare, and hope to make the
Texas Medical Center the global hub for Personalized Preventive
Medicine,” said Dr. Morteza Naghavi, president and CEO of Fairway
Medical Technologies. Dr. Naghavi is a former member of the cardiology
faculty at the University of Texas Health Science Center and Co-Director
of the Vulnerable Plaque Research Department at the Texas Heart
Institute. Fairway is a portfolio company of BCM Technologies (the
commercialization arm of Baylor College of Medicine).
Panasonic has recently made moves to expand its interests in the field
of healthcare. In May, the president of Panasonic, Fumio Ohtsubo, stated
the company’s intention to reinforce the healthcare business in the
group by announcing plans to change its subsidiary’s name from Panasonic
Shikoku Electronics Co., to Panasonic Healthcare Co., on October 1st of
In August, a Panasonic Healthcare Day hosted by Fairway Medical
Technologies and BioHouston in the Texas Medical Center provided an
opportunity for Panasonic executives, including Mr. Taylor, to address
the Texas Medical Center and engage in a dialogue with leading
healthcare professionals and researchers. At that time, Mr. Taylor said,
“We are looking forward to collaborating with the Texas Medical Center,
learning about your needs, and providing you with our latest
“The Texas Medical Center is unique. Nowhere in the world can you find
such a collection of more than 16,000 MDs, PhDs, and other medical
professionals with advanced degrees all in one place. We are pleased
Panasonic has realized the potential of working with TMC institutions,”
said Jacqueline Northcut, President and CEO of BioHouston, a non-profit
organization founded by Houston-Region academic/research institutions to
establish Houston as a Global Competitor in life science.
“Having Panasonic launch its healthcare initiative from Houston and the
Texas Medical Center is a tremendous win for our city and will offer
manifold benefits for the Texas Medical Center,” said Jeff Moseley,
president and CEO of The Greater Houston Partnership who spoke at the
Panasonic Healthcare Day luncheon.
Based in Secaucus, N.J., Panasonic Corporation of North America provides
a broad line of digital and other electronics products for consumer,
business and industrial use. The company is the principal North American
subsidiary of Osaka, Japan-based Panasonic Corporation.
About Panasonic Healthcare Co., Ltd.
Panasonic Healthcare Co, Ltd., headquartered in Matsuyama, Japan, is a
subsidiary of Panasonic Corporation that specializes in the development
and manufacture of healthcare products, including blood glucose
monitoring systems, ultrasound diagnostic systems and hearing
instruments. Founded in 1948, the company has been developing
cutting-edge technologies in in-vitro diagnostic systems, medical
imaging, hearing solutions, medical instruments and hospital systems to
provide value-added solutions to healthcare professionals and patients.
About Fairway Medical Technologies
Founded in 1992, Fairway Medical Technologies is an FDA-registered
medical device, design, development and manufacturing company which
commercializes early-stage medical devices and technologies, including
three which have secured FDA approval. As of 2009, Fairway’s eight
portfolio companies have received over $15 million in grants from the
National Institutes of Health and the State of Texas’ Emerging
Technology Fund. These companies offer technologies in the areas of
cardiovascular screening, neurology and cancer screening and diagnosis.
Fairway Medical Technologies also operates an FDA-compliant
manufacturing facility where it designs and produces prototypes of
medical devices and technologies. For more information, visit
About CardioNexus Corporation
Founded on January, 2009 in Houston Texas, CardioNexus focuses on early
detection of cardiovascular disease using an innovative multi-modality
approach. For more information, visit
Posted November 4, 2010